GRM Overseas Received Rs 60 Cr Order For Import of Basmati Rice From Yemen

GRM Overseas is a leading exporter of Basmati rice in India and a leading FMCG company of India which has received a new order of rice worth Rs 60 crore from Yemen's Bin Awadh Al Naqib Group. GRM Overseas is going to send Basmati rice from India to this Yemeni importer.

GRM Overseas has informed the stock market that the company has received a big order for the supply of Basmati rice worth Rs 60 crore from Yemen's Al Naqeeb Group. This is the biggest order received by GRM Overseas so far from Yemen's FMCG importer and distributor. GRM Overseas' shares have given a return of 6700 per cent to market investors in a decade.

On Thursday, during the bullish trading of the stock market, the shares of a small-cap company named GRM Overseas registered a rise of three per cent and touched the level of ₹ 200. The shares of GRM Overseas Limited, which has a market cap of about Rs 1220 crore, have a 52-week high of Rs 230 while the 52-week low is Rs 113.

GRM Overseas' stock has given investors a return of 8 per cent in the last 5 days, while it has given a return of 54 per cent in the last one month. GRM Overseas' stock has given multibagger returns to investors in the long term. GRM Overseas has told the stock market that this is expected to have a good impact on the company's operations and profits.

Recently, the company reported consolidated quarterly numbers for GRM Overseas with net sales at Rs 405.93 crore in the March 2024 quarter down 6.39% from Rs. 433.63 crore in the March 2023 quarter. Quarterly net profit at Rs. 21.17 crore in Q4FY24 up 87.65% from Rs. 11.28 crore in Q4FY23. EBITDA stands at Rs. 33.51 crore in March 2024 up 32.29% from Rs. 25.33 crore in March 2023. GRM Overseas EPS has increased to Rs. 3.53 in March 2024 from Rs. 1.88 in March 2023.

Earlier, GRM Overseas had launched new FMCG products named 10x Shakti under its subsidiary named GRM Foodcraft Private Limited. These products are being delivered to the customers through general trade, wholesale trade and modern trade channels.

GRM Overseas is a Basmati rice export company. Formed in the year 1974, GRM has created an excellent track record in the export of Basmati rice. For the last few years, due to continuous innovation, the company has made its products accessible to new people in the country and the world.

GRM Overseas sells a variety of Basmati Rice under Brand 10X Zarda King XXL, Wheat flour (atta), gram flour (besan), bulgur (daliya), semolina (sooji), Flattened rice (poha) and more under its 10X Shakti brand. The company also has a ready-to-cook product portfolio including Hyderabadi Biryani, one-pot Moradabadi Biryani and others.